Ultra Short to Short Term funds in India
50 plans (25 Regular, 25 Direct), rated on their track record against the median fund in their category and their peers. Data as of 8 Nov 2026.
For money needed in six months to about a year and a half: still steady, with slightly more interest-rate risk than ultra short funds. SEBI requires ultra short to short term funds to keep the portfolio's duration between ultra short and short, roughly six months to a year (formerly low duration funds).
The difference, on ₹10 lakh invested three years ago, between the strongest ultra short to short term fund (7.2% a year) and the weakest (6.4% a year). Same category, same SEBI rules, same market. 12 of 20 funds beat the median fund in their category over the same period.
Regular plans, to the latest NAV. Past returns, not a forecast.
Regular plans (25)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| ICICI Prudential Ultra Short to Short Term FundICICI Prudential Mutual Fund · 20.6 yrs | A+ | 7.2% | +0.5% | 0.53% | ₹17,269 cr |
| Tata Ultra Short to Short Term FundTata Mutual Fund · 20.6 yrs | A+ | 6.8% | +0.2% | 0.57% | ₹2,665 cr |
| Canara Robeco Ultra Short to Short Term FundCanara Robeco Mutual Fund · 20.6 yrs | A+ | 6.8% | +0.2% | 0.50% | ₹1,087 cr |
| UTI Ultra Short to Short Term FundUTI Mutual Fund · 20.6 yrs | A | 6.9% | +0.2% | 0.65% | ₹2,835 cr |
| Axis Ultra Short to Short Term FundAxis Mutual Fund · 17.1 yrs | A | 7.0% | +0.3% | 0.73% | ₹4,850 cr |
| Bandhan Ultra Short To Short Term FundBandhan Mutual Fund · 18.4 yrs | A | 6.7% | +0.1% | 0.69% | ₹6,196 cr |
| Invesco India Ultra Short to Short Term FundInvesco Mutual Fund · 19.8 yrs | A | 6.8% | +0.1% | 0.65% | ₹1,799 cr |
| HSBC Ultra Short to Short Term FundHSBC Mutual Fund · 3.9 yrs | B | 7.2% | +0.6% | 0.96% | ₹805 cr |
| DSP Ultra Short to Short Term FundDSP Mutual Fund · 11.7 yrs | B | 6.7% | +0.0% | 0.63% | ₹4,428 cr |
| JM Ultra Short to Short Term FundJM Financial Mutual Fund · 8.5 yrs | B | 6.7% | +0.0% | 0.84% | ₹238 cr |
| LIC MF Ultra Short to Short Term fundLIC Mutual Fund · 20.6 yrs | B | 6.6% | -0.0% | 0.42% | ₹1,696 cr |
| Nippon India Ultra Short to Short Term FundNippon India Mutual Fund · 17.7 yrs | B | 6.8% | +0.1% | 0.99% | ₹7,238 cr |
| HDFC Ultra Short to Short Term FundHDFC Mutual Fund · 20.6 yrs | B | 6.7% | 0.0% | 1.03% | ₹15,251 cr |
| SBI Ultra Short to Short Term FundSBI Mutual Fund · 19.3 yrs | B | 6.6% | -0.1% | 0.91% | ₹10,892 cr |
| Mirae Asset Ultra Short to Short Term FundMirae Asset Mutual Fund · 18.7 yrs | B | 6.7% | +0.0% | 0.87% | ₹2,284 cr |
| Baroda BNP Paribas Ultra Short To Short Term FundBaroda BNP Paribas Mutual Fund · 4.6 yrs | C | 6.5% | -0.2% | 1.03% | ₹375 cr |
| Mahindra Manulife Ultra Short to Short Term FundMahindra Manulife Mutual Fund · 9.7 yrs | C | 6.5% | -0.1% | 1.07% | ₹495 cr |
| Kotak Ultra Short to Short Term FundKotak Mahindra Mutual Fund · 11.8 yrs | C | 6.5% | -0.1% | 1.18% | ₹11,883 cr |
| Sundaram Ultra Short to Short Term Fund (Formerly Known as Sundaram Low Duration Fund)Sundaram Mutual Fund · 4.8 yrs | C | 6.4% | -0.2% | 1.15% | ₹382 cr |
| Aditya Birla Sun Life Ultra short to short term FundAditya Birla Sun Life Mutual Fund · 20.6 yrs | C | 6.4% | -0.3% | 1.20% | ₹9,131 cr |
| Bajaj Finserv Ultra Short to Short Term FundBajaj Finserv Mutual Fund · 0.7 yrs | – | – | – | 1.02% | ₹581 cr |
| Edelweiss Ultra Short to Short Term FundEdelweiss Mutual Fund · 1.6 yrs | – | – | – | 0.97% | ₹406 cr |
| Franklin India Ultra Short to Short Term FundFranklin Templeton Mutual Fund · 1.7 yrs | – | – | – | 0.72% | ₹328 cr |
| JioBlackRock Ultra Short to Short Term FundJio BlackRock Mutual Fund · 0.2 yrs | – | – | – | 0.75% | ₹630 cr |
| Union Ultra Short to Short Term FundUnion Mutual Fund · 1.3 yrs | – | – | – | 0.87% | ₹162 cr |
Direct plans (25)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Mahindra Manulife Ultra Short to Short Term FundMahindra Manulife Mutual Fund · 9.7 yrs | A | 7.3% | +0.1% | 0.34% | ₹495 cr |
| Mirae Asset Ultra Short to Short Term FundMirae Asset Mutual Fund · 13.8 yrs | A | 7.4% | +0.2% | 0.21% | ₹2,284 cr |
| Nippon India Ultra Short to Short Term FundNippon India Mutual Fund · 13.8 yrs | A | 7.4% | +0.2% | 0.39% | ₹7,238 cr |
| Baroda BNP Paribas Ultra Short To Short Term FundBaroda BNP Paribas Mutual Fund · 4.6 yrs | A | 7.2% | +0.1% | 0.28% | ₹375 cr |
| Axis Ultra Short to Short Term FundAxis Mutual Fund · 13.8 yrs | A | 7.4% | +0.2% | 0.37% | ₹4,850 cr |
| LIC MF Ultra Short to Short Term fundLIC Mutual Fund · 13.8 yrs | A | 7.3% | +0.1% | 0.23% | ₹1,696 cr |
| HSBC Ultra Short to Short Term FundHSBC Mutual Fund · 3.9 yrs | A | 7.7% | +0.5% | 0.40% | ₹805 cr |
| ICICI Prudential Ultra Short to Short Term FundICICI Prudential Mutual Fund · 13.8 yrs | B | 7.3% | +0.2% | 0.42% | ₹17,269 cr |
| Kotak Ultra Short to Short Term FundKotak Mahindra Mutual Fund · 11.8 yrs | B | 7.3% | +0.2% | 0.41% | ₹11,883 cr |
| Tata Ultra Short to Short Term FundTata Mutual Fund · 13.8 yrs | B | 7.2% | +0.0% | 0.27% | ₹2,665 cr |
| Canara Robeco Ultra Short to Short Term FundCanara Robeco Mutual Fund · 13.8 yrs | B | 7.1% | -0.1% | 0.21% | ₹1,087 cr |
| UTI Ultra Short to Short Term FundUTI Mutual Fund · 13.8 yrs | B | 7.2% | -0.0% | 0.37% | ₹2,835 cr |
| HDFC Ultra Short to Short Term FundHDFC Mutual Fund · 13.8 yrs | B | 7.3% | +0.1% | 0.46% | ₹15,251 cr |
| Aditya Birla Sun Life Ultra short to short term FundAditya Birla Sun Life Mutual Fund · 13.8 yrs | B | 7.2% | +0.1% | 0.42% | ₹9,131 cr |
| Sundaram Ultra Short to Short Term Fund (Formerly Known as Sundaram Low Duration Fund)Sundaram Mutual Fund · 4.8 yrs | B | 7.2% | -0.0% | 0.40% | ₹382 cr |
| Bandhan Ultra Short To Short Term FundBandhan Mutual Fund · 13.8 yrs | C | 7.0% | -0.2% | 0.38% | ₹6,196 cr |
| SBI Ultra Short to Short Term FundSBI Mutual Fund · 13.8 yrs | C | 7.1% | -0.1% | 0.44% | ₹10,892 cr |
| JM Ultra Short to Short Term FundJM Financial Mutual Fund · 8.5 yrs | C | 7.1% | -0.0% | 0.41% | ₹238 cr |
| Invesco India Ultra Short to Short Term FundInvesco Mutual Fund · 13.8 yrs | C | 7.0% | -0.1% | 0.34% | ₹1,799 cr |
| DSP Ultra Short to Short Term FundDSP Mutual Fund · 11.7 yrs | C | 7.0% | -0.2% | 0.31% | ₹4,428 cr |
| Bajaj Finserv Ultra Short to Short Term FundBajaj Finserv Mutual Fund · 0.7 yrs | – | – | – | 0.24% | ₹581 cr |
| Edelweiss Ultra Short to Short Term FundEdelweiss Mutual Fund · 1.6 yrs | – | – | – | 0.25% | ₹406 cr |
| Franklin India Ultra Short to Short Term FundFranklin Templeton Mutual Fund · 1.7 yrs | – | – | – | 0.27% | ₹328 cr |
| JioBlackRock Ultra Short to Short Term FundJio BlackRock Mutual Fund · 0.8 yrs | – | – | – | 0.32% | ₹630 cr |
| Union Ultra Short to Short Term FundUnion Mutual Fund · 1.3 yrs | – | – | – | 0.27% | ₹162 cr |
Common questions
What does a ultra short to short term fund invest in?
SEBI requires ultra short to short term funds to keep the portfolio's duration between ultra short and short, roughly six months to a year (formerly low duration funds).
How many ultra short to short term funds beat their index over 3 years?
12 of 20 ultra short to short term funds (Regular plans with 3 years of history) beat the median fund in their category over the 3 years to 8 Nov 2026.
How are these funds rated?
Each fund is compared only with funds in its category and plan type, on its long-run return over the index, risk-adjusted return, consistency, cost and portfolio. The ratings describe the track record so far; our own backtest found they do not predict future returns.
Ratings describe past track records and are not a recommendation to buy or sell. Read the scheme documents before investing.